The Lionstone Project

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I am posing a question about this project and as I stated in my 2011 thread I think this has a very slight if any chance at being built now, especially if WES gets off the ground. Who currently owns the land? Have there been any other proposals? Will we see a new ownership group buy this property? Could we see a row of condo towers? Apartments? Retail? Hotel?

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A few things: Lionstone has a strong track record and that site is prime. Having said that, I could see the land sit empty for some time.

I like retail, office and/or hotel space. Not sure residential on a roundabout in Nashville will work. But I could be wrong.

I am posing a question about this project and as I stated in my 2011 thread I think this has a very slight if any chance at being built now, especially if WES gets off the ground. Who currently owns the land? Have there been any other proposals? Will we see a new ownership group buy this property? Could we see a row of condo towers? Apartments? Retail? Hotel?

If downtown were to get a commensurate share of this economic development windfall, then maybe we really could see some of these long talked about projects finally get out of the ground.

As far as twin towers somehow being passe, what makes you say so? I've noticed a ton-load of twin tower projects going up all over the world of late. The lead developer of the WTC site recently completed twin residential towers in Manhattan, and I know that South Korea is mad for them as well.

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I am posing a question about this project and as I stated in my 2011 thread I think this has a very slight if any chance at being built now, especially if WES gets off the ground. Who currently owns the land? Have there been any other proposals? Will we see a new ownership group buy this property? Could we see a row of condo towers? Apartments? Retail? Hotel?

Lets discuss.

BR

Lionstone still owns everything save the Ford Property and the Comfort Inn property. I could see condos or apartments happening somewhere on the site, but still having an office building somewhere else on the site.

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Apparently, the new owners of the recently sold Lionstone Site site, Faisson & Associates, LLC, out of Charlotte NC want to get started on an apartment development on the site by years end with a completion target in early 2014.

From the Tennessean;

"A Charlotte, N.C.-based real estate company has paid $6.75 million for property off Demonbreun Street near the Music Row Roundabout with plans to build apartments.

Faison & Associates LLC bought the 1.5-acre site from Lionstone Group of Houston, a real estate investor that still owns the other half of the property best known for a bitter eminent domain battle that pitted the Metro government against landowner Joy Ford in the same area.

Work should start by year’s end, with the apartments expected to be ready for marketing and occupancy in early 2014, said Philip W. Norwood, Faison’s CEO. “We are actively working on permitting and design and are excited about the potential of this exceptional site,” he said.

The apartments will be the first multifamily project in the Nashville area for Faison, whose holdings here include The Avenue shopping center and a medical office building near Middle Tennessee Medical Center in Murfreesboro. “Nashville’s a great market,” said Henry Faison, chairman and founder of the real estate investment, development and management company.

Faison, which typically focuses on retail, office and residential projects, is making a push into apartments. It raised more than $100 million from an institutional investor to develop mostly urban in-fill apartments and just broke ground for a five-story, 280-unit project in Charlotte."

Some exampes of their work:

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Apparently, the new owners of the recently sold Lionstone Site site, Faisson & Associates, LLC, out of Charlotte NC want to get started on an apartment development on the site by years end with a completion target in early 2014.

From the Tennessean;

"A Charlotte, N.C.-based real estate company has paid $6.75 million for property off Demonbreun Street near the Music Row Roundabout with plans to build apartments.

Faison & Associates LLC bought the 1.5-acre site from Lionstone Group of Houston, a real estate investor that still owns the other half of the property best known for a bitter eminent domain battle that pitted the Metro government against landowner Joy Ford in the same area.

Work should start by year’s end, with the apartments expected to be ready for marketing and occupancy in early 2014, said Philip W. Norwood, Faison’s CEO. “We are actively working on permitting and design and are excited about the potential of this exceptional site,” he said.

The apartments will be the first multifamily project in the Nashville area for Faison, whose holdings here include The Avenue shopping center and a medical office building near Middle Tennessee Medical Center in Murfreesboro. “Nashville’s a great market,” said Henry Faison, chairman and founder of the real estate investment, development and management company.

Faison, which typically focuses on retail, office and residential projects, is making a push into apartments. It raised more than $100 million from an institutional investor to develop mostly urban in-fill apartments and just broke ground for a five-story, 280-unit project in Charlotte."

Some exampes of their work:

Eh, sort of a mixed bag! The one in the middle looks absolutely atrocious... and the garden-style design of the third one would be an absolutely waste on that site. Here's hoping they do something attractive.

As I understand the article, Lionstone has retained the corner portion of this land for a future office building.

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Eh, sort of a mixed bag! The one in the middle looks absolutely atrocious... and the garden-style design of the third one would be an absolutely waste on that site. Here's hoping they do something attractive.

As I understand the article, Lionstone has retained the corner portion of this land for a future office building.

I really like the one in the middle. Given what already exists in the area I'd expect something like the one on the left, but slightly shorter. Just my guess. Do we know how many units they are planning to build and will there be a retail componant, which there should, given the area?

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I was talking to WW earlier int he week adn thought something may be up with this property as the City is going to abandon the sewer line for developemnt. This was onthe Metro council agenda:

An ordinance approving the Metropolitan Government to abandon approximately five hundred and seventy (570) feet of existing ten (10) and twelve (12) inch sewer lines and easements on property located at 1515 Demonbreun Street (Proposal No. 2012M-030ES-001).

WHEREAS, The abandonment of the existing sewer lines and easements on property located at 1515 Demonbreun Street are needed for the development of the Demonbreun Street property; and

WHEREAS, The Metropolitan Planning Commission approved mandatory referral No. 2012M-030ES-001 on August 27, 2012, for the abandonment of said sewer lines and easements; and.

NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. The Metropolitan Government is authorized to abandon sewer lines and easements on the property located below and shown on Exhibit 1 which is attached hereto and incorporated by reference:

Map & Parcel: Address: 09313057400 1515 Demonbreun Street

Section 2. The Director of Water and Sewerage Services and the Director of Public Property Administration are authorized to execute such documents as may be necessary and appropriate to carry out the abandonment authorized by this ordinance.

Section 3. Amendments to this legislation shall be approved by resolution.

Section 4. This ordinance shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

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A request for final approval for a portion of the Music Row Urban Design Overlay District for a portion of property located at 1515 Demonbreun Street, at the intersection of Demonbreun Street and Division Street (1.48 acres), zoned CF and located within the Arts Center Redevelopment District, to permit a 6-story, 374,000 square foot building containing 225 multifamily units, requested by Littlejohn Engineering Associates, applicant, for LUI Nashville Roundabout, LLC, owner (Please see also Final Subdivision Plat Case # 2012S-103-001).